commoditize
Say it: kuh-MOD-ih-tyz /kəˈmɑdətaɪz/ · verb
What “commoditize” means
Make products so similar that buyers mainly compare prices.
More precisely: To turn something distinctive into a generic product that competes mainly on price.
Example: “Cloud storage has been commoditized, so providers fight on price.”
When to use it
In business analysis, when once-distinctive products become interchangeable and sellers increasingly compete by lowering their prices.
Similar words
standardize, genericize
Quick check
Suppliers' cables become interchangeable, and buyers choose almost entirely by price. What does this change do to the product?
differentiate or commoditize?
Show the answer
commoditize
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